The article explores how a secondary market in a rent-seeking game can impact efforts, payoffs, and rent allocation. The researchers find that while a secondary market can correct misallocations, it may also increase rent dissipation. In some cases, this increased dissipation can outweigh the benefits of correcting misallocations, leading to a reduction in overall welfare. The impact of tradeability on welfare depends on the bargaining power and valuations of the parties involved.